Economy

California restaurant owners say they will be forced to raise menu prices even higher after a new law that bans fees and surcharges goes into effect in July.

The Federal Reserve announced it would maintain the federal funds rate at 5.25% to 5.5%, where rates have held steady since last July.

Mortgage rates rose again this week, with the average 30-year fixed-rate note climbing further past 7% in another blow to the struggling housing market.

The April jobs report, due out Friday morning, is expected to show the labor market is continuing to moderate due to higher interest rates and inflation.

The Federal Reserve is standing pat on interest rates for now, with the timing of a cut uncertain. Still, the backdrop remains supportive for the U.S. job market and the rank and file.

Peloton CEO Barry McCarthy is stepping down from the beleaguered high-end fitness company after just over two years in the role, the company announced Thursday.

The botched rollout of a new FAFSA form for students and families to apply for federal financial aid has caused colleges to delay their aid offers, leaving students in limbo.

Home share Airbnb is launching the first product outside its core service as it seeks to drum up demand from younger users and international tourists.

The Federal Reserve signaled that it will keep interest rates higher for longer amid stubborn inflation, keeping borrowing costs elevated for Americans.

American homebuyers are taking on riskier adjustable rate mortgages to address affordability concerns despite the potential for payments to increase in the future.

While Chipotle has yet to feel any impact from California's minimum wage hike and resulting menu price increases, its CFO says the company is keeping "a close eye on it."